CPPIB said the investment will be committed to a Canadian fund-of-funds program with a mandate to focus on domestic small and mid-market buyout and growth equity funds that are seeking to raise C$1 billion or less in capital commitments.

This investment is in addition to the pension fund manager’s C$70 million infusion in the Northleaf Venture Catalyst Fund in 2014. Over the past decade, CPPIB has committed C$1.2 billion to Canadian private equity investments through its partnership with Northleaf.